Towpath Technology Correlations

TOWTX Fund

USD 15.14 0.18 1.20%

The current 90-days correlation between Towpath Technology and Angel Oak Multi Strategy is 0.02 (i.e., Significant diversification). The correlation of Towpath Technology is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Towpath Technology Correlation With Market

Poor diversification

The correlation between Towpath Technology and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Towpath Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Towpath Technology. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Towpath Mutual Fund

0.62	TOWFX	Towpath Focus	Pair Corr
0.64	FSELX	Fidelity Select Semi	Pair Corr
0.79	SLMCX	Columbia Seligman	Pair Corr
0.71	SCICX	Columbia Seligman	Pair Corr
0.79	CCIFX	Columbia Seligman	Pair Corr
0.63	PRSCX	T Rowe Price	Pair Corr
0.75	BTMPX	Ishares Msci Eafe	Pair Corr
0.75	BTMKX	Blackrock International	Pair Corr
0.75	MDIIX	Blackrock Intern Index	Pair Corr
0.72	BUFOX	Buffalo Emerging Opp	Pair Corr
0.83	RYLDX	Dow 2x Strategy	Pair Corr
0.85	VBINX	Vanguard Balanced Index	Pair Corr
0.66	FSREX	Fidelity Series Real	Pair Corr
0.79	WMGCX	Ivy Mid Cap	Pair Corr
0.75	FNCFX	Franklin Income	Pair Corr
0.69	HWNIX	Hotchkis And Wiley	Pair Corr
0.75	TRIEX	Tiaa Cref International	Pair Corr
0.71	FESOX	First Eagle Overseas	Pair Corr
0.79	TMCTX	Touchstone Mid Cap	Pair Corr
0.73	CZOVX	Zacks All Cap	Pair Corr
0.84	VFINX	Vanguard 500 Index	Pair Corr
0.82	BRSJX	Mfs Blended Research	Pair Corr

Related Correlations Analysis

	ANGCX	PCEMX	SAEMX	EMDQX	EPASX	EGLNX	REMVX	SFGIX
ANGCX		0.6	0.66	0.87	0.49	0.53	0.76	0.78	ANGCX
PCEMX	0.6		0.88	0.74	0.69	0.4	0.9	0.89	PCEMX
SAEMX	0.66	0.88		0.73	0.64	0.34	0.94	0.83	SAEMX
EMDQX	0.87	0.74	0.73		0.71	0.73	0.8	0.88	EMDQX
EPASX	0.49	0.69	0.64	0.71		0.59	0.66	0.73	EPASX
EGLNX	0.53	0.4	0.34	0.73	0.59		0.41	0.6	EGLNX
REMVX	0.76	0.9	0.94	0.8	0.66	0.41		0.89	REMVX
SFGIX	0.78	0.89	0.83	0.88	0.73	0.6	0.89		SFGIX
	ANGCX	PCEMX	SAEMX	EMDQX	EPASX	EGLNX	REMVX	SFGIX

Risk-Adjusted Indicators

There is a big difference between Towpath Mutual Fund performing well and Towpath Technology Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Towpath Technology's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ANGCX	0.07	0.00	(0.43)	0.32	0.00	(0.16)	0.12	(0.12)	0.58
PCEMX	0.64	0.09	0.07	0.18	0.80	(0.75)	1.62	(1.34)	5.04
SAEMX	0.56	0.09	0.05	0.52	0.69	(0.63)	1.32	(1.30)	3.87
EMDQX	0.19	0.02	(0.10)	0.18	0.08	(0.26)	0.41	(0.41)	1.02
EPASX	0.55	0.00	(0.03)	0.06	0.65	(0.60)	1.39	(0.79)	3.02
EGLNX	0.66	0.00	(0.03)	0.06	0.82	(0.76)	1.26	(1.61)	3.79
REMVX	0.64	0.09	0.08	0.19	0.72	(0.76)	1.23	(0.86)	4.38
SFGIX	0.50	0.07	0.07	0.19	0.54	(0.54)	1.13	(1.05)	2.61

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Towpath Technology Correlations

Towpath Technology Correlation With Market

Poor diversification

Moving together with Towpath Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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